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Windstream Buys Iowa Telecom in $1.1 Billion Deal

Windstream Corp. of Little Rock will purchase Iowa Telecommunications Services Inc. of Newton, Iowa, in a $1.1 billion deal, according to the Arkansas Business Journal.
The Little Rock-based telecommunications firm, which has operations in Broken Arrow, said the deal will allow it to expand into Iowa and Minnesota, adding about 256,000 access lines, about 95,000 high-speed Internet customers and about 26,000 digital TV customers.
The deal is the latest in a string of acqusitions for the telecommunications firm, a spinoff of wireless firm Alltel Corp., which was purchased last year by Verizon Wireless.
Windstream announced its most recent buy — a $643 million deal for NuVox of South Carolina — on Nov. 3, according to ABJ.
In September, it announced a $141 million deal to buy Lexcom Telecom of North Carolina. In May, it announced a $330 million deal to buy D&E Communications of Ephrata, Pa.
The D&E and Lexcom deals was financed with a $400 million debt offering.